dc.contributor.author | Samuelsen, Torstein | |
dc.contributor.author | Svendsen, Casper Sormerud | |
dc.date.accessioned | 2023-10-17T12:21:28Z | |
dc.date.available | 2023-10-17T12:21:28Z | |
dc.date.issued | 2023 | |
dc.identifier.uri | https://hdl.handle.net/11250/3097028 | |
dc.description | Masteroppgave(MSc) in Master of Science in Business, Sustainable Finance - Handelshøyskolen BI, 2023 | en_US |
dc.description.abstract | This study explores the relationship between ESG scores and P/B ratios for Nordiclisted
companies. We find indications of differences in average P/B and ESG scores.
To explore if ESG drives P/B differences, we develop a panel-regression model
with six control variables. We find evidence that assets with an ESG score have a
higher P/B ratio (β = 0.0046***), after controlling for traditional drivers of P/B.
This confirms our expectation that investors are willing to pay a premium for ESG
performance. Contrary to the literature, further investigation shows that low ESGscoring
companies tend to have a higher price premium than high ESG-scoring
companies when accounting for control variables and NAs. We discuss implications
and possible explanations for these findings and formulate advice for Nordic firms
and Asset managers.
Keywords: | en_US |
dc.language.iso | eng | en_US |
dc.publisher | Handelshøyskolen BI | en_US |
dc.subject | sustainable finance | en_US |
dc.subject | finans | en_US |
dc.title | ESG Scores and Equity Value: A Study of ESG Premium in the Nordic markets | en_US |
dc.type | Master thesis | en_US |